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rescission of contract in Western Australia property contracts

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#1Western AustraliaDeposit & DefaultStrong match

Rescission of Contract

Protecting Your Purchase: Understanding Rescission of Contract in Western Australia

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#2Australian Capital TerritoryDeposit & DefaultStrong match

Rescission of Contract

Understanding Rescission of Contract in an Australian Capital Territory Property Contract

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#3Northern TerritoryDeposit & DefaultStrong match

Rescission of Contract

Understanding Rescission of Contract in Northern Territory Property Sales

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#4New South WalesDeposit & DefaultStrong match

Rescission of Contract

Rescission of Contract: Critical Protections and Pitfalls in New South Wales

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#5QueenslandDeposit & DefaultStrong match

Rescission of Contract

Rescission of Contract in Queensland: A Buyer's Guide to Property Contract Cancellation

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#6South AustraliaDeposit & DefaultStrong match

Rescission of Contract

Understanding Rescission of Contract in South Australia Property Contracts

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#7TasmaniaDeposit & DefaultStrong match

Rescission of Contract

Understanding Rescission of Contract in a Tasmania Property Contract: A Guide for Buyers

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#8VictoriaDeposit & DefaultStrong match

Rescission of Contract

Understanding Rescission of Contract in Victoria: Protecting Your Property Purchase

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#9Western AustraliaDeposit & Default

Forfeiture of Deposit

Forfeiture of Deposit in Western Australia: What Every Buyer Needs to Know About the REIWA Contract

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#10Western AustraliaDeposit & Default

Release of Deposit

Understanding the Release of Deposit in Your Western Australia Property Contract: A Buyer's Essential Guide

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Search Summary

Found 159 relevant pages. The strongest matches explain what “rescission of contract” means, where the buyer risk sits, and how the clause plays out in real contracts.

Frequent Risk Signals

• Loss of Deposit: If you, as the buyer, breach a crucial term of the REIWA Contract (e.g., failing to secure finance by the due date without proper extension), the seller can rescind the contract and keep your deposit, which can be tens of thousands of dollars.
• Legal Costs: Should your breach lead to the seller rescinding the contract, you may be liable for the seller's legal costs incurred in enforcing their rights and potentially remarketing the property.
• No Cooling-Off Period: Unlike some other Australian states, Western Australia does not have a statutory cooling-off period for residential property contracts. Once you sign the REIWA Contract, rescission is a serious legal step, not an easy exit.
• Difficulty Proving Misrepresentation: If you believe the seller misrepresented the property (e.g., undisclosed defects), proving this to legally justify rescission can be complex, time-consuming, and require significant legal evidence under Western Australia law.
• Missed Opportunities: If a contract is rescinded due to your breach, you lose the specific property and may face a rising market, making your next purchase more expensive. This is a significant buyer's risk.
• Forfeiture of Costs: Any costs you've already incurred, such as for building inspections, pest reports, or valuation fees, will likely be forfeited if the contract is rescinded, as these are typically non-refundable.

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